On January 1, Belleville Company paid $2,020,000 to acquire 50,500 shares of O'Fallons voting common stock, which represents a 40 percent investment. No allocations to goodwill or other specific accounts were made. Significant influence over O'Fallon is achieved by this acquisition, and so Belleville applies the equity method. O'Fallon declared a $3 per share dividend during the year and reported net income of $614,000. What is the balance in the Investment in O'Fallon account found in Bellevilles financial records as of December 31?

rev: 01_20_2021_QC_CS-247823

Multiple Choice

• $2,174,100.

• $2,234,100.

• $2,114,100.

• $2,265,600.